Cleary and Sullivan acted as counsel to Citigroup, which has raised $12.5bn through private placements with investors including the investment arms of the
Two further public offerings – which closed last week worth $3.17bn (£1.59bn) and $3.72bn (£1.87bn) respectively – will add to the investment, which totals $19bn (£10bn).
New York-based corporate and finance partner Jeff Karpf led the team for Cleary, alongside capital markets partner Alan Beller and M&A partner Neil Whoriskey. Firm chairman Rodgin Cohen and corporate finance partner Robert Downes led the team for Sullivan.
Also investing alongside the Government of Singapore Investment Corporation (GSIC) and the Kuwait Investment Authority (KIA) were Saudi prince Alwaleed bin Talal, the New Jersey Division of Investment (NJDI) and Citigroup’s former chairman and chief executive, Sandy Weill.
GSIC was advised by Sidley Austin, with investment funds partners Susan Lewis and Prabaht Mehta leading the team for the
Big four Los Angeles firm Gibson Dunn & Crutcher acted for KIA, fronted by capital markets partner Steven Guynn and tax partner Jeffrey Trinklein.
NJDI used corporate partner Cheryl Gorman of Newark-based firm Gibbons.
Former Citigroup chief executive Weill was advised by
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